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Funding Guides 2 min read

How to update your Articles on SeedLegals outside of a funding round

Published:  Mar 24, 2024
Anthony Rose
Anthony Rose

Normally the time to update your company’s Articles is when you do a funding round. But sometimes you want to update the Articles outside of a round – perhaps you want to add support for Growth Shares, or change some of the provisions that you had set in your Articles the last round because things have changed since then.

When you do a funding round on SeedLegals we’ll create all the necessary documents for you – Investor Consent, Shareholders Agreement, Disclosure Letter, Articles, Board Minutes, Shareholders Resolution.

If you just want to update your Articles, it turns out that you still need many of those documents – Investor Consent, Articles, Board Minutes, Shareholders Resolution. So the easiest way to update your Articles – particularly if your last round was on SeedLegals – is to use our funding round workflow, except this time without adding investors to the round.

In this Loom video I’ll show you how to set up a new round on SeedLegals to create new Articles and all the other documents you’ll need to get approvals for that from your existing investors and shareholders.


Syncing your new Articles with an existing Shareholders Agreement

Having covered the main workflow, there’s one really important thing you’ll need to do, which is to make sure that your new Articles refer to the date of your last Shareholders Agreement (if you had one), or doesn’t refer to an existing Shareholders Agreement at all (if you never had one).

In this video I explain what that means and how to set that up in the SeedLegals workflow:

It’s really important that your new Articles match up with the provisions and references to it in the Shareholders Agreement, and vice versa. So be sure to ask the SeedLegals team to review everything for you, before you get anyone to sign the resolutions or file anything with Companies House.

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